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MIGHTY AMAZONAmazon.com took a giant leap forward in cyberspace when it agreed to pay $19 million on July 8 to become America Online's bookseller of choice. AOL's 8 million customers will get direct access to the Seattle-based retailer via AOL's home page and Net search service. Similar deals with Yahoo! and Excite will give Amazon prime space on their Web sites in return for fees. Investors cheered the move, lifting Amazon shares 15%, from 24 to 27 5/8--well above its May initial public offering price of $18.
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Updated July 11, 1997 by bwwebmaster
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